Page:Federal Reporter, 1st Series, Volume 1.djvu/278

 ^7^ PEDEBAIi BEFOBTEB. �ment, so far aa it had the effect to remit the interest whieh Jbad aecrued upon the loan. �The defendant accepted the $2,000, and now retains it. There is no reasonable objection to the mortgage security tendered for $2,000, and this is the coi-rect test, in my opin- ion, of "satisfactory security" mentioned in this agreement. The only matter really in dispute is the interest on the sum of |4,000 up to the date of the agreement, December 24, 1878 ; and the plaintiff has executed the new note and mort- gage for $2,000, drawing interest at 6 per cent, from Decem- ber 24, 1878, bearing date April 24, 1879, and the same is now tendered, in court, to the defendant. The court has the subject completely before it — to enable a final determination of the case — and, upon full consideration, has come to the conclusion that a decree should be entered in the case in favor of the plaintiff conditionally. It is therefore ordered, that a decree be entered adjudging that the defendant, upon the payment of the sum of $700 by the plaintiff — which is the amount of interest upon the original loan of $4,000, com- puted to the date of the new agreement, and the interest upon the $2,000 note tendered, up to December 24, 1879 — execute and deliver a release and satisfaction of the $4,000 mort- gage; provided, that the property described in the new mort- gage is free from ail encumbrances, including taxes, and the title in the grantors. ���Wells v. The Southern Minnesota Railway Company. �(Cireutt Court, D. Minnesota. March, 1880.) �Kailkoat>— FORECLOSURB Deckee— Terms "Sebtant" and "Employe" CoNSTRTJBD. — An act of the legislature of the state et Minnesota pro- vided that in a foreclosure sale of a railroad, the court granting the foçecloaure decree should provide in such decree, or otherwise, that the purchaser should "fuUy pay ail sums due and owing by such Company." Hdd, that the terms "servant" and "employe" did not in- clude a secretary of such railroad company. ��� �
 * * foreclosed railroad Company to any servant or employe of such